Grayscale, the world’s largest digital asset manager, has successfully partnered with the fintech investment platform, iCapital Network. The partnership aims to provide cryptocurrency investment exposure to more than 6700 high-net-worth clients and iCapital network advisors.
According to the Globe-News Wire report published on September 13, the partnership brings together the iCapital education, technology and investment administration capabilities, and Grayscale’s digital currency expertise and leadership.
The joint team will provide crypto exposure through Grayscale’s diversified market-cap-weighted investment strategy to their more than 6,700 high-net-worth clients and network advisors.
While commenting about the new partnership, Lawrence Calcano, Chairman and CEO of iCapital Network, asserted that cryptocurrencies are of great interest to wealthy clients. Moreover, making a Grayscale partnership is a logical step:
“Advisors and their clients have expressed an increasing appetite for uncorrelated return potential in their portfolios, and digital currencies are at the center of the conversation right now… We are delighted to partner with Grayscale, a recognized leader in digital currency investing with the experience to help investors navigate this dynamic asset class.”
Data acquired from Grayscale indicates a relatively similar trend, with the new research conducted on financial advisors confirming that 61% of clients have approached them for more information about cryptocurrency investing.
Similarly, Grayscale COO Hugh Ross expressed his warm excitement for the partnership, acknowledging how diversifying into cryptocurrency can help wealth managers to store their fiat, especially in today’s digital life.
“In a world with trillions of dollars of fiscal stimulus and negative real interest rates, the wealth management industry is recognizing the diversification benefits and inflation hedge potential that digital currencies can offer in an investment portfolio.”
Grayscale Offers Crypto Exposure
Concerning the partnership, Ross maintained that Grayscale differentiates itself from other potential iCapital partners through its “transparency as SEC reporting company.”
Although the SEC has repeatedly slammed Bitcoin and other crypto ETFs in the United States, the regulator has allowed the operation of Grayscale and many other of its products. The digital asset manager has recently doubled the number of reporting products to six including, Bitcoin Cash trust, Litecoin trust, and Ethereum Classic trust.